Pi Network’s PI token drops by 13% weekly as team announces crucial deadline in advance

Remember, PI was trading near $0.30 just a few weeks ago. Now the price has dropped to less than $0.18.

The core team behind the controversial blockchain project has set a deadline for completing the next major upgrade, which should take place in the next week or so.

However, the protocol’s native token continues to bleed, down over 3% in the past day and declining at a double-digit rate weekly. It essentially erased all the gains made during the post-Kraken announcement rally.

Deadline for next update

Big protocol updates to the Pi Network began in late February when the team Announce Migration to version 19.6. Next release, version 19.9, He follows Sued in early March. The most anticipated upgrade was version 20.2, which attracted significant attention because it laid the foundation for smart contract capabilities, which would allow the Pi Network to become a fully functioning blockchain ecosystem.

After it was done successfully promotion By Pi Day (March 14), the team had its sights set on the next big step – moving to Protocol 21. However, it did not initially provide a specific time frame for completion, leading some community members to question the actual implementation.

However, the core team explained in a post on X hours ago that the Pi Network Mainnet has begun the process of upgrading to Protocol 21, and the deadline is April 6. As with all previous updates, they have urged all Mainnet nodes to “complete this step before the deadline to stay connected to the network.”

Pi Mainnet is upgraded to Protocol 21 – Deadline: April 6. All mainnet nodes must complete this step before the deadline to stay connected to the network. Details here: https://t.co/9VehO7hhj1

– Pi Network (@PiCoreTeam) March 27, 2026

Fixed PI tanks

Maybe because of the above updates or, more likely, because of the Kraken Listing decision An essential asset for trading, the PI token saw significant success in mid-March. At some point, right after the Kraken announcement, it happened rose By 30% within 24 hours. Overall, it jumped almost 100% in days and hit a multi-month peak of around $0.30.

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However, once the actual listing became official, it turned out to be another classic news selling event, and the PI fell below $0.20 immediately. It has mostly remained below that level since then. It has now fallen below $0.175 after another 3% drop in the past day, losing 13% of its value weekly.

Data from PiScan shows that the average daily open of PI tokens will be relatively high for next month, near 7 million. There will be several days for more than 10 million coins to be issued, which may intensify spot selling pressure and lead to a further decline.